Multiple Choice
Hollywood Talent Services is a sole proprietorship operated by Phil Morris.The net income of Hollywood Talent Services is $23,000 for the year.The beginning and ending Morris,Capital account was $33,000 and $50,000,respectively.During the year,there were no new capital contributions.Calculate the amount of the owner's withdrawals for the year.
A) $16,000
B) $6,000
C) $10,000
D) $9,000
Correct Answer:
Verified
Correct Answer:
Verified
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